“Our world class workforce of talented Texans attracts employers from many expanding industries.”
Texas Insider Report: AUSTIN, Texas – The Texas labor market maintained its momentum in March to reach a 36th consecutive month of positive annual growth and once again set new record-high levels for jobs, Texans employed, and the civilian labor force. Texas’ seasonally adjusted total nonfarm job count increased to 14,115,700 after 19,100 jobs were added over the month in March, reflecting growth in 45 of the last 47 months.
Texas also led the nation with the largest absolute over-the-year increase in total nonfarm employment, which grew by 270,700 jobs from March 2023 to March 2024. This represents a 2.0 percent annual growth rate in Texas, which outpaced the U.S. growth rate by 0.1 percentage points.
The Texas seasonally adjusted civilian labor force grew over the month by 20,800 people to reach 15,189,900 in March. This included the addition of 12,100 employed Texans over the month. The seasonally adjusted unemployment rate registered at 3.9 percent for the 10th consecutive month while showing a drop from the 4.0 percent unemployment rate from March 2023.
“Texas continues to be a top place for growth and economic success with thousands of jobs added by employers in March,” said TWC Chairman Bryan Daniel. “Our world class workforce of talented Texans attracts employers from many expanding industries.”
The largest over-the-month addition of jobs occurred in Leisure and Hospitality, which achieved a new series high with 7,300 jobs added. Another 3,700 jobs were added in Mining and Logging. Other Services added 2,400 jobs over the month in March, which also marked an over-the-year growth rate of 4.6 percent—2.8 percentage points higher than the industry’s national growth rate.
“Continued job growth has strengthened Texas’ reputation as the best state to work and do business,” said TWC Commissioner Representing Labor Alberto Treviño III. “As more people arrive in Texas in pursuit of these emerging career opportunities, TWC is making sure they have access to guidance and training for long-term success.”
The Houston-The Woodlands-Sugar Land Metropolitan Statistical Area (MSA) added 67,800 nonfarm jobs over the year, which was the nation’s second largest absolute not seasonally adjusted over-the-year increase in total nonfarm employment among MSAs across the country. The Midland MSA maintained the lowest unemployment rate among Texas MSAs with a not seasonally adjusted rate of 2.6 percent in March, followed by the Amarillo and College Station-Bryan MSAs at 3.1 percent.
“Texas continues to attract employers on a global scale because of our unique business climate, skilled workforce, and strong community partnerships,” said TWC Commissioner Representing Employers Joe Esparza. “TWC can help workers across the state upskill and reskill to fill Texas employers’ growing workforce needs.”
Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labor’s Bureau of Labor Statistics.
*All estimates are subject to revision. To access this and more employment data, visit TexasLMI.com.
The Texas Labor Market Information Data for March is scheduled to be released on Friday, May 17, 2024, at 9:00 a.m. (CT).
